IPO activity jumps 17 times in the region for June quarter
The GCC debt capital markets in 2014 had an active second quarter, particularly in corporate bonds and sukuk, with large size deals that received a positive response from investors, which was demonstrated by the tight yields achieved.
"We saw sizable issuances from
The IPO market in the GCC in the second quarter (Q2) started off and ended on a high, with a total of seven IPOs, compared to two in Q1 2014. The total value of the seven IPOs in Q2 2014 was
The IPO activity picked up since the beginning of 2014 in GCC as it recorded more than 381 per cent and 80 per cent jump in terms of volume and value respectively during the first half of the year compared to same period last year.
During the January to June period there were a total of nine IPOs raising
"Equity capital markets performance in the region in the H1 2014 improved considerably …… Looking ahead, the remainder of 2014 looks very strong and we would expect to see this continue into 2015,"
"On the cross border front, the trend seems to continue with regional companies looking to list on international markets. However, Q2 2014 proved to be challenging as we saw several companies postponing their planned IPOs despite the recovery in markets," the statement added.
The second quarter witnessed its first IPO in April with the
"DCM [debit capital market] in the GCC has grown and continues to grow as demand for debt remains strong. In Q2 2014, we saw sizable issuances, many of which were oversubscribed. The debt market in the region is expected to continue to flourish due to factors such as government spending, development of new projects and macroeconomic conditions, to name a few. However, there still remains an element of risk or uncertainty in the region as a result of the political unrest in the
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OCTOBER 31, 2014
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